SLT Lending SPV’s $35 Million Senior Secured Revolving Credit Facility

Morgan Lewis represented CSC Generation in the credit facility, while Choate represented Second Avenue Capital Partners.

Second Avenue Capital Partners LLC, as agent, provided a $35 million senior secured revolving credit facility to SLT Lending SPV Inc., as borrower.

SLT Lending SPV acquired Sur La Table, a luxury kitchenware retailer, out of bankruptcy. The credit facility is an exit financing and the borrower will use the proceeds to finance working capital needs and pay certain fees and expenses in connection with the acquisition.

SLT Lending SPV is a subsidiary of a joint venture between Marquee Brands and CSC Generation, a technology startup that enables brands to become “digitally native” by leveraging the company’s proprietary technology platform and operating expertise.

Morgan Lewis represented CSC Generation with Partner Matthew Schernecke (Picture) and associates Meray Muney and Gregory Ginther.

Choate represented Second Avenue Capital Partners with John F. Ventola, Stephen J. Tonkovich, Rick Thide, and Leila Souhail.

Involved fees earner: Leila Souhail – Choate; Rick Thide – Choate; Stephen Tonkovich – Choate; John Ventola – Choate; Gregory Ginther – Morgan Lewis; Meray Muney – Morgan Lewis; Matthew Schernecke – Morgan Lewis;

Law Firms: Choate; Morgan Lewis;

Clients: CSC Generation; Second Avenue Capital Partners;

Author: Ambrogio Visconti